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it's not a fiscal cliff. it's like a small slope. >> the statistics say that corporate america has got a little bit to give. sam stein, good to have you with us. >>> there's a lot coming up in the next half hour. >> guns have nothing to do with the culture we live in. >> the radical right drowns out the scent over handgun violence and they are coming after bob costas. >> bob costas, based on our standards, deserves to be fired for these remarks. >> dan gross, president of the brady campaign and bill rhoden of "the new york times" respond. >>> a tribute video to hillary clinton has everyone talking about a presidential run. >> people not just like her. >> michael tomasky joins me on that later. >>> and republican runner up rick santorum has a new gig at the weekly world news. not quite, but it's close. detail its ahead. >>> we are back. there's a lot that we don't know about the tragic events that unfolded in kansas city. two people are dead. a baby girl is left without parents and a legally owned handgun was
it's not a fiscal cliff. it's like a small slope. >> the statistics say that corporate america has got a little bit to give. sam stein, good to have you with us. >>> there's a lot coming up in the next half hour. >> guns have nothing to do with the culture we live in. >> the radical right drowns out the scent over handgun violence and they are coming after bob costas. >> bob costas, based on our standards, deserves to be fired for these remarks. >> dan...
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republicans are doing a lot of maneuvering on the fiscal cliff. president obama and the democrats have put forward a plan relying mostly on raising more revenue from the wealthiest 2% of the country. republicans rely mostly on draconian cuts affecting the middle class and the poor and republicans aren't specific about how they get $800 billion in revenue. for the conversation, let's turn to richard wolffe, msnbc political analyst and vice president and executive director of msnbc.com. and molly ball, political reporter for "the atlantic." the republican proposal includes ryan's voucher program for medicare. we're not even a month away from the election and they are throwing up on the wall everything that was rejected. why are they doing this? >> well, i can tell you why they think they have a mandate. they are throwing insults at each other and that means they are engaging. they may be way apart in terms of the lessons learned. think -- they clearly don't seem to have learned very many from this election. but house republicans have put in their in
republicans are doing a lot of maneuvering on the fiscal cliff. president obama and the democrats have put forward a plan relying mostly on raising more revenue from the wealthiest 2% of the country. republicans rely mostly on draconian cuts affecting the middle class and the poor and republicans aren't specific about how they get $800 billion in revenue. for the conversation, let's turn to richard wolffe, msnbc political analyst and vice president and executive director of msnbc.com. and molly...
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will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. is
will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on,...
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cliff and blame republicans. the president put it in his own words tonight. not all democrats are with the president on the tax issue. 20 senate democrats face re-election in two years. some of them might struggle with voting to raise taxes by more than $12.5 trillion. this is amateur video from syria purporting the show a government war plane on a bombing run in damascus. one of syria's neighbors get serious about self-defense. concerns about the chemical weapons on the rise. "special report" starts at #:00 eastern. now have back to my colleagues with "the five." >> five, four, three, two, one. [ applause ] >> good job! >> andrea: the lighting of the 73-foot tall capitol christmas tree. that was john boehner who lit the tree. on the west front steps of the cocapitol. where president obama will have inauguration in a couple of weeks. from the speaker bearing brooks brother to devil wears prada. anna winter raised money to get president obama re-elect and it could be paying off for her now. bloomberg news is repor
cliff and blame republicans. the president put it in his own words tonight. not all democrats are with the president on the tax issue. 20 senate democrats face re-election in two years. some of them might struggle with voting to raise taxes by more than $12.5 trillion. this is amateur video from syria purporting the show a government war plane on a bombing run in damascus. one of syria's neighbors get serious about self-defense. concerns about the chemical weapons on the rise. "special...
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now let's talk about the fiscal cliff. to use the words of john boehner, i'm flabbergasted. >> nowhere period. we're nowhere. i'm flabbergasted. he can't be serious. i'm serious about our debt. >> cenk: i can't wait to get serious on john bainer when we come back. and later in the program the elbow of the day who 12 on? guess at @tytoncurrent. this corruption based on corruption based on corruption. >>i think that's an understatement, eliot. u>> i'm not prone tot. understatement, so explain to me why that is. i think the mob learned from wall st., not vice versa. [ male announcer ] lifts to clear obstacles. ♪ ♪ lowers to cut drag. rises to every challenge. the class exclusive air suspension in the new 2013 ram 1500. engineered to move heaven and earth. guts. glory. ram. (vo) now, it's your turn. (vo) connect with the young turks with cenk uygur. >> it's go time. >> cenk: some had hopes that in a second term president obama would be more progressive because he wouldn't have to face re-election. i thought that was very u
now let's talk about the fiscal cliff. to use the words of john boehner, i'm flabbergasted. >> nowhere period. we're nowhere. i'm flabbergasted. he can't be serious. i'm serious about our debt. >> cenk: i can't wait to get serious on john bainer when we come back. and later in the program the elbow of the day who 12 on? guess at @tytoncurrent. this corruption based on corruption based on corruption. >>i think that's an understatement, eliot. u>> i'm not prone tot....
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will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. al
will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. when you take a...
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will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. let's say you want to get ahead in your career. how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. i just finished a bowl of your new light chicken pot pie soup and it's so rich a
will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. let's say you want to get ahead in your career. how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even...
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>> eric: if we go over the fiscal cliff, people getting hurt the most, paid the most are the wealthy. >> kimberly: look, we talk about the jobs -- look, you want class warfare. >> greg: why is it good to punish people -- >> bob: break after break after break for republicans from 1986 on. time to pony up. >> greg: why? they pay most of the taxes. >> bob: so what? you don't care they contribute. you want them punished. >> greg: you're obama's soul. >> bob: they don't pay percentage of taxes on the money they earn versus what -- >> greg: 40%. reduce the government for eight days. that is preposterous. >> eric: is earning money a bad thing? >> dana: not if you ask for campaign contributions. practical point, gite on the sunday show said all the democrats support this. that is not true. the key democrats, landrieu, begich and north carolina -- i can't remember her name -- they are on all on record saying i don't think i'm for this. he has even a harder time convincing those on the democratic side to go with his plan. >> greg: one day explain why are you punishing the rich when you know it
>> eric: if we go over the fiscal cliff, people getting hurt the most, paid the most are the wealthy. >> kimberly: look, we talk about the jobs -- look, you want class warfare. >> greg: why is it good to punish people -- >> bob: break after break after break for republicans from 1986 on. time to pony up. >> greg: why? they pay most of the taxes. >> bob: so what? you don't care they contribute. you want them punished. >> greg: you're obama's soul....
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>> the fiscal cliff negotiations? >> stephanie: yes. >> i love that they don't include the tax cuts for the middle class or the expiration for the bush tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion that some. she has been taking steps to assess her options when it comes to running for office. she is doing opposition research on herself to see where she might be most vulnerable. mcconnell will be running for his sixth term another option is to run against senator rand powell in 2016. there is a briefings tomorrow on the september 11th attack on our console consoleate attack in benghazi they the talking
>> the fiscal cliff negotiations? >> stephanie: yes. >> i love that they don't include the tax cuts for the middle class or the expiration for the bush tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it....
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just hours ago, house republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts, apparently the white house is unimpressed with the proposal by the speakert and white house republicans? >> i think the white house needs to do case studies, calvin coolidge and president john f. kennedy, when you look at what they did with lowering tax rates and increase revenues. calvin coolidge went from 73% to 24%. john f. kennedy from 91% to 71%. they increased revenues. we are not talking about what the president is looking at with his wealth redistribution, we are talking about wealth expansion, economic growth and sound policies to do that. if you want to continue to believe that $250,000 makes someone ri
just hours ago, house republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts,...
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let me ask you about the fiscal cliff. where do we stand? >> we're standing on the edge. >> greta: i understand that. >> can i just say what i want to avoid? what i want more than anything else is to get the country out of debt in a permanent way. the big problem with us becoming greece is not revenue, it's not the tax code. it's entitlements. 10,000 baby boomers retire a day. social security and medicare are about $50 trillion underfunded combined, and we need to adjust the age of retirement slowly but surely for people under 55 because we're all living longer. you and i need to pay a little more into the system because we can afford it. that's the kind of entitlement reform we need to avoid the coming grief. >> greta: there are two things to do. nothing. i guess there are three things. we can do nothing, manage it, or solve it. manage is sort of a limping along situation. recognizing that more baby boomers are coming along. management is actually getting more of a situation. >> the longer you wait to solve it, the harder it is. if we do no
let me ask you about the fiscal cliff. where do we stand? >> we're standing on the edge. >> greta: i understand that. >> can i just say what i want to avoid? what i want more than anything else is to get the country out of debt in a permanent way. the big problem with us becoming greece is not revenue, it's not the tax code. it's entitlements. 10,000 baby boomers retire a day. social security and medicare are about $50 trillion underfunded combined, and we need to adjust the...
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cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so angry he dropped an f-bomb. >> i was flabbergasted. for more on obama's plan let's go to dj mcpaw-paw mcwhiskers. >> that was amazing. he can really spin. you pay $35 to get him to show up. dan, when was the last time you were flabbergasted? isn't it hard to be flabbergasted? >> every time i read the business section. up and down i have so many stocks and stuff. >> say mutual funds. >> mutual funds and numbers. numbers. >> let me ask you, terry, is obama overreaching here? there is no reason to over reach here. exc
cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so...
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i think we could sell fiscal cliff saucers and helmets. >> sure. >> sell t-shirts at the fiscal cliff claifen. >> stephanie: there jim's catch phrase. >> charles productions. >> stephanie: a lot of people are equally irritated by grover norquist. he is on the meet the press, and i don't understand who he is why anything pays at attention to him. and why he gives the president of the united states instructions. the point is is there a cure chris? >> why yes. >> what it is? >> that grover norquist i can't speak. >> try this. >> norquill? >> yeah. norquill the shut the [ censor bleep ] up so we can get something done medicine. [ laughter ] >> stephanie: i didn't see that coming. i should listen it to first. >> yeah you really should. >> stephanie: i have a nephewture husband this morning. >> does he know? >> stephanie: no. well he does now, if you just give me a second here. >> does he know you are lesbianic. >> stephanie: no. jim stop being a [ censor bleep ]. we kept saying it is treasonist -- how do you sign a pledge to a guy? >> with no political authority of any kind. >> stephanie:
i think we could sell fiscal cliff saucers and helmets. >> sure. >> sell t-shirts at the fiscal cliff claifen. >> stephanie: there jim's catch phrase. >> charles productions. >> stephanie: a lot of people are equally irritated by grover norquist. he is on the meet the press, and i don't understand who he is why anything pays at attention to him. and why he gives the president of the united states instructions. the point is is there a cure chris? >> why yes....
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the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best wa
the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the...
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the president took to twitter today to answer questions about the fiscal cliff. one person asked whether deductions for homeowners are at risk to which the president responded, breaks for middle class important for families and economy. if top rates don't go up, danger that middle class deductions get hit. signed "bo." yesterday house speaker john boehner said this on fox news. >> listen, nobody want to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. you know, the president's idea of a negotiation is, roll over and do what i ask. >> and on "meet the press" yesterday grover tried to change america's mind about who to blame if we do go off the cliff. >> tea party 2 is going to dwarf tea party one if obama pushes us off the cliff. let's not pretend who's pushing us offer the cliff. >> but continuing to insist that the president does have the better argument. >> at the end of the day, presi
the president took to twitter today to answer questions about the fiscal cliff. one person asked whether deductions for homeowners are at risk to which the president responded, breaks for middle class important for families and economy. if top rates don't go up, danger that middle class deductions get hit. signed "bo." yesterday house speaker john boehner said this on fox news. >> listen, nobody want to go over the cliff. that's why the day after the election i tried to speed...
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on the fiscal cliff. but first... >> announcer: this is the "full court press." >> on this tuesday other headlines making news, the most eagerly awaited pregnancy in recent times was announced yesterday. duchess kate middleton pregnant with what would be the third in line to the british throne. child of prince william. he and kate have been married for 19 months. kate was admitted to the hospital yesterday suffering from acute morning sickness. she needed extra hydration and nutrients and will spend a couple of days there. she's reportedly not quite 12 weeks pregnant so she's likely due in may or june. >> bill: third in line. it would be charles then william and then the baby and harry gets pushed out to pasture. >> bill: even if baby x is a girl? >> absolutely. the way they changed the line of succession to the throne, even if it's a girl. >> bill: you know it's big news when the white house press briefing opened with jay carney congratulating on behalf of the president and the first lady and everybody h
on the fiscal cliff. but first... >> announcer: this is the "full court press." >> on this tuesday other headlines making news, the most eagerly awaited pregnancy in recent times was announced yesterday. duchess kate middleton pregnant with what would be the third in line to the british throne. child of prince william. he and kate have been married for 19 months. kate was admitted to the hospital yesterday suffering from acute morning sickness. she needed extra hydration...
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cliff. this morning president obama will host some of nation's governors to spread his message. the president wants to raise 1.6 trillion in revenue by increasing taxes on top 2% of income earners. republicans countered with plan it would raise 800 billion dollars in revenue but doesn't call for raising tax rates on the wealthy the proposal was quickly rejected by the white house. >>> if you plan to fly anywhere for the holiday, book your flight right away. >> here's jane king with the bloomberg business report. >>> good morning. if you are thinking of flying over the holidays and don't have a ticket yes, book fast. airfares are up 4% compared to last year now that advanced purchase window can keep costs down if you buy 21 days in advance. if you are looking to save, christmas day airfares are cheaper along with december 27th and 31st, 17th and 18, may be good. congress gearing up to overall haul student loan debt collection wisconsin representative expected to introduce a measure this week
cliff. this morning president obama will host some of nation's governors to spread his message. the president wants to raise 1.6 trillion in revenue by increasing taxes on top 2% of income earners. republicans countered with plan it would raise 800 billion dollars in revenue but doesn't call for raising tax rates on the wealthy the proposal was quickly rejected by the white house. >>> if you plan to fly anywhere for the holiday, book your flight right away. >> here's jane king...
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we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> 28 days until the country plummets off the tax and fiscal cliff. big tax hikes could be coming for everyone but we see als
we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the...
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. >> bret: ultimatum from the president on the fiscal cliff. this is "special report." ♪ ♪ >> bret: democrats and republicans agree on some things about the approaching budget deadline. both agree the other proposals are ridiculous and it's time for the other side to get serious. that is about it. today the president side seemed to dig in instead of give in. >> this is fairy dust. >> they blasted the debt proposal and vowed unless republicans give in on the tax rates, president obama let the nation fall off the fiscal cliff. >> republicans need to acknowledge reality here. rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view ma
. >> bret: ultimatum from the president on the fiscal cliff. this is "special report." ♪ ♪ >> bret: democrats and republicans agree on some things about the approaching budget deadline. both agree the other proposals are ridiculous and it's time for the other side to get serious. that is about it. today the president side seemed to dig in instead of give in. >> this is fairy dust. >> they blasted the debt proposal and vowed unless republicans give in on the...
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who is creating them in the face of the fiscal cliff? we have got the answers and they may surprise you. >>> and let the debate begin. it's a little fuzzy, roll the tape. there you go a new study says high-speed trading on wall street is hurting the small investor and even puts a price tag on exactly how much the little guy is getting killed. you know they're talking about that one, sue, down at the new york stock exchange. how are you doing, sue? >> great, ty. indeed they are talking about that and we are going to talk bhort exact numbers on that study in just a few minutes. stocks are steady. talks continuing in washington. we are just down about 12 points on the dow jones industrial average, 27 days until america goes over that fiscal cliff. the president just finished answering questions on the issue after meeting with governors at the white house and our political correspondent, john harwood is live at the white house and eamon javers is talking with key congressional players on those talks. john, first to you. >> reporter: the pres
who is creating them in the face of the fiscal cliff? we have got the answers and they may surprise you. >>> and let the debate begin. it's a little fuzzy, roll the tape. there you go a new study says high-speed trading on wall street is hurting the small investor and even puts a price tag on exactly how much the little guy is getting killed. you know they're talking about that one, sue, down at the new york stock exchange. how are you doing, sue? >> great, ty. indeed they are...
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we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that
we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our...
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the idea we're at a fiscal cliff where the economy stops on january 1st is completely misleading. it's a squeeze. everyone will feel it, but then you're in a position where everyone can vote to cut taxes. that might be more politically feasible. >> i like that perspective. you help us take out some of the fear mongering we see, a lot of the media is perpetuating. that's why we're doing the fiscal follies and the wheel of fortune. fiscal fiesta. the media is doing all this fear mongering and you get a lot out of washington. this is a self-created drama, of course. these cliff negotiations. but the markets are remaining relatively calm and steady. why are investors being so cool and above the fray when everybody else is running around with their heads cut off? >> everybody thinks what you see on tv with the duelling positions and we refuse to negotiate, the market sees it for what it is, which is theater. everyone is staking out the position trying to suck up to the base. there will be behind the scenes caving at some point, and if there isn't, if everyone just says absolutely not,
the idea we're at a fiscal cliff where the economy stops on january 1st is completely misleading. it's a squeeze. everyone will feel it, but then you're in a position where everyone can vote to cut taxes. that might be more politically feasible. >> i like that perspective. you help us take out some of the fear mongering we see, a lot of the media is perpetuating. that's why we're doing the fiscal follies and the wheel of fortune. fiscal fiesta. the media is doing all this fear mongering...
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do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not air box, it's a beltway here. and we are in this debt mania. there is a long term crisis on debt. i think david would agree with that. if you actually go back and read what my old boss and his partner wrote almost two years ago now, they said these things, these cuts in tax increases should be back loaded so we don't damage the economy. in the president's proposal, he does have a small infrastructure bank program to try to jump-start some growth, so i think it's a good idea. raising tax rates on the rich. i saw your interview with senator coburn. he is
do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not...
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. >>> the market does remain laser focused on the fiscal cliff, with just 27 days to go and less for the official congressional session. president obama and john boehner making comments on the issue a short time ago and according to our deal meter, there it is, still only a quarter of the way there. we have got all sides of this story covered. john harwood live at the white house. eamon javers on capitol hill and the president's comments. >> the president gave an interview to our colleagues at bloomberg and said a couple of things. first of all, his priorities now trying to break republicans in their resistance to raising the top rate by some amount, a stance republicans have been consistent on. more revenue, question, not higher rates, he is insisting on that as the price of negotiating with him. and he said the reason for that is if you take all of what can be raised in revenue from deductions that is politically realistic, not trying to take away the mortgage deduction in the face of tremendous resistance from consumers and the housing industry, you can only raise about 300 to $40
. >>> the market does remain laser focused on the fiscal cliff, with just 27 days to go and less for the official congressional session. president obama and john boehner making comments on the issue a short time ago and according to our deal meter, there it is, still only a quarter of the way there. we have got all sides of this story covered. john harwood live at the white house. eamon javers on capitol hill and the president's comments. >> the president gave an interview to our...
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with that they propose is a counter over for the fiscal cliff. the republican plan has will00 billion for tax freerm 900 billion in mandatory spending cuts and 300 billion in discretionary cuts. the proposal falls short of what the president wants and cannot be taken seriously. >>> we understand they don't agree with everything the president has put on the table but we haven't seen alternatives for that. they have spoken about an avenue and that challenge is welcome. republican leaders have been adamant they don't believe rates ought to go up on the top 2 percent of wealthiest americans. the american people overwhelmingly disagree. the rates have to rise and republicans need to acknowledge that. >> the major difference between the two sides is over taxing on the rich. obama wants to raise taxes on the wealthy. obama wants to eliminate deductions and close loopholes plus cut spending for entitlement programs. the president has said there can't be tax cuts for the rich at the expense of the domestic program which is frustrating for some republicans
with that they propose is a counter over for the fiscal cliff. the republican plan has will00 billion for tax freerm 900 billion in mandatory spending cuts and 300 billion in discretionary cuts. the proposal falls short of what the president wants and cannot be taken seriously. >>> we understand they don't agree with everything the president has put on the table but we haven't seen alternatives for that. they have spoken about an avenue and that challenge is welcome. republican leaders...
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to blame republicans and just 27% the president if they don't agree on a fiscal cliff. we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, you're going to see tax rates rise on all americans. you're going to see huge cuts in the defense budget. we're probably going to have a double dip recession, and until the congress then gets its act together to fix it and lower rates on the middle class, you will have the republicans essentially responsible for raising tax rates on the middle class. i can't imagine, again, bill krystal said this yesterday. i can't imagine why the republicans would want to be known as raising tacks xes on t middle class. >> thank you both. next, the president reacts to speaker boehner. stay with us. this is sheldon, whose long dy setting up the news starts with arthritis pain and a choice.
to blame republicans and just 27% the president if they don't agree on a fiscal cliff. we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, you're going to see tax rates rise on all americans. you're going to see huge cuts in...
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fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of the year. no formal talks between the two sides are scheduled today. will go outside the nation's capital to get your voice involved. republicans -- democrats -- independents -- send us a tweet, post your comments on facebook, or send us an e-mail. we begin with some of the papers across the country today and how this latest proposal from house republicans is playing out in the papers. courtesy of "the atlantic journal-constitution" -- here is "the denver post" -- finally, here is "of the arizona republic" -- here is "t
fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of...
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to be at an icy impasse over the so-called fiscal cliff. this is hours after the white house rejected the counteroffer. >> while their proposal may be serious, it's also a nonstarter. they know any agreement that raise tax on the middle class in order to protect more unnecessary giveaways, the top 2% s. doomed from the start. it won't pass. democrats won't agree to it. president obama wouldn't sign such a bill and the american people won't support it. >> you don't get people together until they finally sit down at the table and negotiate. it's still too much posturing, still too much the president wants his way, somebody else wants it that way. >> the gop's opening bid includes $2.2 trillion in tax reform, entitlement reform. but here's the problem, it includes no tax hike for the top 2% that republicans must have and something that the president repeated on the campaign trail. >> the obstacle here continues to be republicans who hold out hope that we can somehow go through this process and still deliver tax cuts to millionaire and billiona
to be at an icy impasse over the so-called fiscal cliff. this is hours after the white house rejected the counteroffer. >> while their proposal may be serious, it's also a nonstarter. they know any agreement that raise tax on the middle class in order to protect more unnecessary giveaways, the top 2% s. doomed from the start. it won't pass. democrats won't agree to it. president obama wouldn't sign such a bill and the american people won't support it. >> you don't get people...
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that fiscal cliff, you know, that is real. we have some real financial issues that we need some real solutions for. >> all right. so presumably the president can reach his supporters online but can they reach congress? how do you take that and turn that into something that maybe has influence with the other side in. >> well, the thing about that is that the president is able to get messages to people who are versed in technology and participating in technology. the people participatory in technology know how easy it is to reach the people in congress. he's talking to exactly the right people, the people who know how to use twitter and facebook and e-mail. >> is there more to be done with this? is there opportunity for the president with those numbers in the millions almost limitless? >> it's almost limitless if he can will the vote his way. what will happen, you're going to see a lot more like this. he's going to do this with every issue now. >> you're limiting yourself in terms of who is social media savvy or not so much anym
that fiscal cliff, you know, that is real. we have some real financial issues that we need some real solutions for. >> all right. so presumably the president can reach his supporters online but can they reach congress? how do you take that and turn that into something that maybe has influence with the other side in. >> well, the thing about that is that the president is able to get messages to people who are versed in technology and participating in technology. the people...
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. >> with 28 days left to come to a deal on the nation's fiscal cliff, the white house is holding firm on its proposal to raise taxes on the wealthy. spokesman jay carney. >> the obstacle remains at this point the refusal to acknowledge by republican leaders that there is no deal that achieves the kind of balance that is necessary without raising rates on the top 2% wealthiest americans. the math simply does not add up. >> ifill: the white house proposes raising $1.6 trillion in taxes over ten years, imposing higher rates on those making more than $250,000 a year. in a letter sent to the white house today, speaker of the house john boehner rejected the president's approach, writing that republicans cannot in good conscience agree to this approach which is neither balanced nor realistic. his counter-offer, save $2.2 trillion by among other things raising $800 billion in new revenues. the plan would also raise the future eligibility age for medicare and alter medicaid to save another $600 billion. the republican plan would not increase tax rates for the wealthy. the president is campaign
. >> with 28 days left to come to a deal on the nation's fiscal cliff, the white house is holding firm on its proposal to raise taxes on the wealthy. spokesman jay carney. >> the obstacle remains at this point the refusal to acknowledge by republican leaders that there is no deal that achieves the kind of balance that is necessary without raising rates on the top 2% wealthiest americans. the math simply does not add up. >> ifill: the white house proposes raising $1.6 trillion...
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perhaps it's the governors to the rescue in this fiscal cliff crisis.lothian, thanks so much that. ose. citracal slow release. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. the rescue in this fiscal cliff you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. >>> so this next story will leave you either shocked that politics a
perhaps it's the governors to the rescue in this fiscal cliff crisis.lothian, thanks so much that. ose. citracal slow release. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare...
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in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlemented ientitlements i'm prepared to make, we have to see the rates on the top 2% go up. we're not getting a deal without it. understand the reason for that. it's not me being stubborn or partisan, it's a matter of math. >> and the gop plan, which was unveiled yesterday, includes $800 bill onin new taxes made through closing loopholes and deductions and not raising rates. compare that to the president's plan and that's about half of what the white house asked for. republicans propose 600 billion in entitle
in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient...
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and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama proposals by saying you're not cutting spending, you're not coming to us on entitlements, but it's falling flat. no one's really listening and the white house has controlled the debate that it's all about the upper 2%. the first thing in texas you do is shrink the size of government, wouldn't you? >> well, we did that. we faced a substantial budget shortfall. we have a constitutional amendment that requires us to have a balanced budget, which frankly america needs that. >> i don't know what would happen. >> most states have that. >> the states that are -- i
and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama...
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that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and my colleague congressman tim walls, filed a discharge petition today to take the bill that we have, that has already passed the senate, that grants certainty to the middle class, to take that bill up and make sure that we can extend the middle class tax breaks before the holidays where we can give -- that's what everyone agrees on. i don't know any republican or democrat that thinks we should let those tax rates -- tax cuts for the middle class expire. so we should pass that now. and then on the things that we're having more trouble agreeing on, we should sit down at the table. the one thing i
that's really what the crux of this fiscal cliff negotiation -- what these fiscal cliff negotiations are all about. they're about fairness. when the president and congressional democrats talk about the need for balanced approach, to deficit reduction and dealing with the fiscal cliff, we're talking about fairness. we're talking about making sure that if you work hard and play by the rules everyone has a chance to succeed. that the middle class needs certainly tight right now. speaker pelosi and...
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who is afraid of the big bad so-called fiscal cliff? maybe it should be termed the nice gradual fiscal slope. we've certainly heard a lot of ceos and other financial cassandras in recent weeks prove size doom if it a deal isn't cut by year's owned. but washington, both side have dug in their heels, and the answer may be that suddenly the sliding down the fiscal slope does not seem that bad. maybe that's why the republicans leaders like speaker of the house john boehner were able to put off making a counter proposal to the president's offer until today. crossing the red line on the talks by rejecting the demind that the republicans accept a hike in the marginal tax rate for those with income over a quarter million dollars a year. my view? obviously i agree with the white house on the substance and as i have said before, their hand gets stronger over time. but sometimes a new idea can change the dynamic. here is an idea that has been around for a long time, supported by james tobin way back and pushed by ralph nadar in a "washington post"
who is afraid of the big bad so-called fiscal cliff? maybe it should be termed the nice gradual fiscal slope. we've certainly heard a lot of ceos and other financial cassandras in recent weeks prove size doom if it a deal isn't cut by year's owned. but washington, both side have dug in their heels, and the answer may be that suddenly the sliding down the fiscal slope does not seem that bad. maybe that's why the republicans leaders like speaker of the house john boehner were able to put off...
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stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the tax rate issue. the president insists more revenue comes from higher rates, not deduction limits. -pit's a standoff and it contins less than four weeks to go until the deadline. be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the comp
stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the...
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that was a good solid meeting discussing the fiscal cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates could go down next year as far as tax reform. you talked with fiscal rates need to go up. what he campaigned on was the 39.6 at the end of the year. is that the case? >> so, let me say this, the president has been absolutely clear, as have i, that rates have to go up on top earners, on millionaires and billionaires, those making over $250,000. the president made that clear all yearlong and clear in the post-election period being engaged in conversations with congress about how to deal with the fiscal cliff, and our long term deficit challenges. we have yet to
that was a good solid meeting discussing the fiscal cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates...
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." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy of this country. it won't pass. >> the gop proposal calls for $600 billion in entitlement reform, including raising the medicare age. it brings $200 billion from social security, adjusting the inflation rate and raises $800 billion in new tax revenue by reforming the tax cut and closing loopholes. the plan rejects specifically raising tax rates, but it is significant that john boehner has gotten his entire leadership team, including congressman eric cantor, kevin mccarthy and even former vice presidential nominee and budget hawk paul ryan to publicly sign their names to a plan that through c
." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy...
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we'll go off the fiscal cliff, down the fiscal slope. yes i think it will happen because it is the one way republicans can, without violating the pledge, and offending the grand inquisitor grover norquist, it's the one way they can let this happen. >> and, in fact, you know, what could happen, you can imagine a scenario where you go off the cliff on taxes, rates go up for everybody, you then vote to restore the rates for the vast majority of taxpayers, 98%, and further it is even conceivable you negotiate down the top rates in the level under bill clinton a little bit by putting in the pot offsetting deductions for credits which would allow republicans to claim some sort of victory as well. that could be a scenario where you have a consensus on the tax run. >> let's run all of this by representative xavier becerra of california. he's joining us now. nice to see you, sir 367 appreciate your time. what is really the white house dismiss kind of out of hand i mean i don't have the exact number of minutes that they had this republican proposa
we'll go off the fiscal cliff, down the fiscal slope. yes i think it will happen because it is the one way republicans can, without violating the pledge, and offending the grand inquisitor grover norquist, it's the one way they can let this happen. >> and, in fact, you know, what could happen, you can imagine a scenario where you go off the cliff on taxes, rates go up for everybody, you then vote to restore the rates for the vast majority of taxpayers, 98%, and further it is even...
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this morning we also had a look at the fiscal cliff. host: we're looking at different pass expects of the fiscal cliff. today we turn our attention to the alternative minimum tax and the patch that could come from congress if they're able to work out a deal. if they do nothing this will impact 30 million americans. joining to us discuss is georgetown law's john buckley. thank you for being here. john buckley, let's begin. what is the alternative minimum tax? guest: in very simple terms, the alternative minimum tax requires you to pay the greater of what you pay under the regular income tax or what you would compute under the minimum tax which has a slightly broader base. it disallows some deductions that would be allowed in the regular tax. in some respects it's very similar to cap on itemized deductions that's currently being discussed. rather than directly attack preferences in expenditures it essentially puts an overall cap on benefit. there's no new ideas in this debate. the cap bears a very strong relationship to how the alternativ
this morning we also had a look at the fiscal cliff. host: we're looking at different pass expects of the fiscal cliff. today we turn our attention to the alternative minimum tax and the patch that could come from congress if they're able to work out a deal. if they do nothing this will impact 30 million americans. joining to us discuss is georgetown law's john buckley. thank you for being here. john buckley, let's begin. what is the alternative minimum tax? guest: in very simple terms, the...
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let's talk about the fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way mathematically, if you look at the republican's proposal, that you can get to the deficit reduction that we need to with preserving the middle class tax cuts by not increasing as the republicans refuse to do the upper tier rates. there's room for discussion, but that -- >> so the 39.6%, that's not a red line? >> as far as i know and the conversations i've had, the president has said there's room for compromise, but for the red line to be drawn in the sand by republicans to say that an increase in rates on the wealthiest a
let's talk about the fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential....
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the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you looked at each approach, what do you see in that? >> well, i think it's important. i think the reporting has been a little weak on the republ
the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding...
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well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax reve
well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and...